11:20 AM EDT, 03/16/2026 (MT Newswires) -- (Updates to include the stock movement and additional details in the headline, the first and the fourth paragraphs.)

Fennec Pharmaceuticals ( FENC ) shares rose 4.4% on Monday after the company said it reached a settlement with Cipla Limited and Cipla USA, resolving patent litigation related to a proposed generic version of its Pedmark therapy.

Under the agreement, the parties will dismiss the lawsuit, with each side bearing its own legal costs. Cipla also agreed not to launch a generic sodium thiosulfate product in the US until Sept. 1, 2033, unless certain earlier-entry conditions are met.

Pedmark is the first and only therapy approved by the US Food and Drug Administration to reduce the risk of hearing loss associated with cisplatin chemotherapy in pediatric patients with localized, non-metastatic solid tumors, it added.

Cipla did not immediately reply to MT Newswires' request for comment.

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